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Timken: 2Q Earnings Snapshot

July 31, 2019

NORTH CANTON, Ohio (AP) _ Timken Co. (TKR) on Wednesday reported second-quarter net income of $92.5 million.

The North Canton, Ohio-based company said it had profit of $1.20 per share. Earnings, adjusted for one-time gains and costs, were $1.27 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The maker of bearings and power transmissions posted revenue of $1 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.01 billion.

Timken expects full-year earnings in the range of $4.80 to $5 per share.

Timken shares have risen 30% since the beginning of the year. The stock has risen slightly more than 5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TKR at https://www.zacks.com/ap/TKR

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